This Article First Appeared In Business today On Jan 05, 2023
India has about 100 unicorns, which includes names like Swiggy, Ola, Nykaa, etc., and 170 soonicorns, such as Ather Energy, SUGAR Cosmetics, Dunzo, and others. With the start-up ecosystem maturing in the last decade, the time taken to reach the $100 million-mark has decreased significantly to just five years now, a new report by Redseer Strategy Consultants said. As per the report, what took 18 years in 2000 to reach $100 million revenue has come down to five years.
eB2B emerged as the biggest sector with $2,250-2,750 million revenue in FY22 followed by foodtech at $900-950 million and gaming at with $500-550 million revenue. The start-up ecosystem in all has produced more than 100 companies of greater than $100mn in revenue.